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CNBC
Dec 26, 2012 1:00pm EST
and vote, even though there's no fiscal cliff deal, there was hope they would bring everybody back and try to get something going on friday afternoon. that hasn't happened. if you look at the dow, we were positive earlier in the day and now been negative for awhile. simon mentioned mastercard's spending pulse data, only up 0.7%. this was a surprise to a lot of people and the analysts didn't have these numbers. you can see the effect it's had on some of the luxury stocks. i do want to point out that i think there is some misinterpretation of this data. i'll explain a little bit more at the top of the hour. but these mastercard survey excludes certain categories, nonholiday categories that are very important and might have shown a little bit better. so the national retail federation thinks it will be up 4.1%. i think after you take a look at the details, you will see that mastercard might actually be closer to that number when you include all of the categories that are possible to be surveyed. finally, i want to point out good news with the bank stocks. they are continuing, some of t
MSNBC
Dec 26, 2012 10:00am PST
representatives the 48-hour notice to return to work, another sign of inaction on the fiscal cliff front. joining me now for our daily fix, mr. jonathan capehart, msnbc contributor and "washington post" editorial writer. jonathan, we're just six days away, no indication from house republicans that they are going to come back any time soon. the leadership has gone mum on that. we know there's not been communication between boehner and mcconnell, obama and boehner. are you amazed with this short amount of time to go there seems to be no sense of urgency on either side? >> am i amazed, given what we went through with the debt ceiling, no, i'm not amazed. i think there are forces here in this town that would like for us, sure people would like for there to be a deal, but going over the cliff on january 1st when there's this notion where it's not really a cliff, it's a slope, it's a curb depending who you talk to, that you can repair the damage if you get a deal done, you know, a few days after january 3rd. i think people feel like they can slow walk. as we saw last week when plan b failed, y
NBC
Dec 26, 2012 12:35am EST
questions about the fiscal cliff from ordinary americans. he claims the top question about the fiscal cliff is "can we eat it?" [ laughter ] nope, you can't. get this. earlier today, mitt romney was spotted on a costco shopping spree. that's right. romney ended up buying 14 costcos. [ laughter ] amazing. [ cheers and applause ] >> steve: come on. he's -- >> jimmy: hey, ooh! listen to this, applebee's -- we all love applebee's, right? is that blooming onion? >> steve: no. >> jimmy: is that the blooming onion? >> steve: that's outback steakhouse. >> jimmy: i love outback. [ laughter ] what does applebee's have? >> steve: sandwiches. >> jimmy: hot wings? [ laughter ] >> steve: apples and bees. >> jimmy: apples and bees. that's not true. what does applebee's have? they have something, right? >> they have two for 20! >> jimmy: two for 20. [ laughter ] >> steve: two for 20. >> jimmy: slow down. i'm not treating you to applebee's. >> steve: all-american two for 20. >> jimmy: you know what? i'm going to get you after the show. i'm going to give you a gift certificate to applebee's. all right?
FOX News
Dec 26, 2012 10:00am PST
an 11th hour deal to bring the country back from the edge of the fiscal cliff. and welcome to a brand new hour of "america live," i'm heather childers. gregg: and i'm gregg jarrett, megyn is off today. senate lawmakers also cutting short their holiday break. the real sticking point is in all of this has been the president's proposed tax hike. both sides suggesting a cooling-off period was necessary before getting back to business, but the word from both democrats and republicans today, nothing has changed. chief white house correspondent ed henry is in beautiful honolulu. aloha, ed. [laughter] >> reporter: aloha. [laughter] well, it's interesting pause you say the sticking point -- because you say the sticking point is taxes going up, which is true, but the other big one will be spending cuts because the latest offer, we've been through plan a which was that $4 trillion debt deal, plan b which fell apart on speaker john boehner last week, now we're basically on plan c which president obama says would be dealing with short-term issues like two million people who are losingen employment benefits in
FOX Business
Dec 26, 2012 6:00pm EST
. meanwhile, i'm a totally different story, the fiscal cliff is still a big concern for most investors. as the president and congress try to come up with a last-ditch effort to fix the fiscal cliff for the year. the dow jones is down nearly 25 points today. having fallen more than 1.5% over the past week. with details, we have jerry leiby for zacks investment research. here is a big question. if nothing happens, will there be a big seller? >> well, if nothing happens, yes, 547%. but i don't think the question is easy. there's going to be a kick the can solution. the question really is what are the details? who gets hurt the most, and what exactly is going to come out of consumers pockets with we estimate 1500 at minimum will be the reduced income for the average consumer in 2013. but what else? gerri: okay, hang on. what is that though the traders want to see? you talk about consumers and how they will be treated. but how will traders in life it's quick what will make them approve the plan? >> will traders are looking for is a balanced approach, if there is such a thing. and the questi
CNN
Dec 26, 2012 6:00am PST
. you've heard a lot about the fiscal cliff lately. how will it actually affect you? what happens to your taxes if we go off the cliff? according to the tax policy center if you're sing well no children and make $50,000 a year you will see your taxes go up by $1,500 if no deal is reached. married couple with two kids making $100,000 would see their taxes go up a whopping $5,300 per year. taxes will go up the same amount underneath the democratic and republican plans if no deal is reached. just one day after the christmas holiday, president obama is packing his bags, heading back to washington to try to forge a deal on the fiscal cliff, with just six days left to negotiate, a deal to avoid the catastrophic cliff, the president will leave hawaii tonight to try to work on a bargain between democrats and republicans. brianna keilar is traveling with the president in hawaii and joins us now. good morning, brianna. did the president cut his vacation short or was it planned all along? >> reporter: he did cut his vacation short from what was initially planned which was to go through the new
CBS
Dec 26, 2012 5:00am PST
. >>> coming up, days away from going over the so-called "fiscal cliff." what the president is doing to try to reach an 11th hour deal. >>> it's the day after christmas which means a milestone for retailers and gift returners. we'll tell you how early some stores in the bay area open when we return on cbs 5. ,,,, dozens of tornadoes spottedn the south.. today, residents are getting their >> your realtime captioner: linda marie macdonald. >>> we came out and we saw this, what did you think? >> thank god i'm alive. >> dozens of tornadoes spotted in the south. today residents getting a first look at the damage. >> and we're going to have on- and-off rain showers throughout the morning into the afternoon. when will the wet weather end? we'll let you know coming up. in the meantime, it's also causing some slick conditions even flooding out in sonoma county. traffic and weather together every 10 minutes. >>> good morning, everyone. it's wednesday, december 26. i'm michelle griego. >> i'm brian hackney. frank is off today. thanks for coming to cbs 5. >>> much of the northeast can expect rough weather today from a massive st
CBS
Dec 25, 2012 5:30pm PST
make sure the flames don't go out. ye're now one week away from the so-called fiscal cliff. heven days for the white house and congressional leaders to reach a budget deal to avoid tax increases for nearly every american. president obama is on vacation in hawaii, and that's where we find nancy cordes tonight. nancy, what can you tell us? >> well, jim, still no conversations today between owmocrats and republicans on how to avert the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he would essentially dare house and senate republicans to oppose. his legislation would likely extend the bush-era tax cuts for households making less than 250,000 a year. it might also include enough short-term spending cuts to temporarily offset for, say, six or eight months, the indiscriminate across-the-board spending cuts that are set to go into effect on january 1. yis bill would also try to tie up some year-end loose ends by extending long-term unemployment benefits, patching the alternative minimum tax that d
FOX News
Dec 26, 2012 6:00am PST
deal with the looming fiscal cliff. it is a brand new hour of "america's newsroom," hello, everyone, i'm patti ann brown. gregg: and i'm gregg jarrett. lawmakers are -- republican lawmakers are returning to washington, d.c., and they are trying to negotiate something, anything with the house. both sides saying that a few days to cool off over the holiday might be helpful, but there are no signs they're closer to a deal. patti ann: chief white house correspondent ed henry joining us now live in honolulu, hawaii. so, ed, what is the latest? any progress to tell us about? >> reporter: or well, patti ann, really no progress. as gregg was saying, a lot of people thought, well, a cooling-off period, the holidays, maybe this'll get everybody to work together, the president even joking last week about figuring out a way to move all of this forward, but we've been told by white house officials there have been no real phone calls between the president and speaker boehner over the last few days, very little staff contact. so the bottom line is the president is leaving hawaii here tonight, as y
FOX Business
Dec 26, 2012 5:00pm EST
to fly back to washington in the next few hours to try to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points.
CNBC
Dec 26, 2012 6:00am EST
score. >>> coming up, a big two hours and prospects for the fiscal cliff and why taxes could be keeping americans from spending. stay tuned. progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. president obama heading back to d.c. we're following every development as the clock keeps ticking. >>> retail numbers rolling in. >>> plus investing trends in the new year. ♪ >> we're focusing in on where to put your money as 2013 approaches. the second hour of "squawk box" starts right now. ♪ >>> good morning. welcome to "squawk box" on cnbc. i'm joe kernen, along with andrew ross sorkin. becky quick is off today. is this evans hour? "youngblood?" >> i don't know this song. ♪ >> futures are higher not as much as before. 17 points or so. being up at all with the fiscal cliff real
CNBC
Dec 26, 2012 12:00pm EST
fiscal cliff night? let's get to the "fast money" halftime. >>> all right, carl. thanks so much. welcome to the "halftime" show. four hours to go until the close. the dow has taken a turn to the negative. down 33 points. as you can see, the s&p and the nasdaq are following suit. here's what we're following on the "halftime" show. lucky '13. which stocks look like a good bet. >>> cliff countdown. just three trading days remain for lawmakers to reach a deal and avoid going over the cliff. will they rise above and what happens to the markets if they don't? first our top story, shopped out. new data showing holiday sales grew at the slowest pace in four years. what does it all say about the health of the nation's retailers and the money you have in their stock? our traders for the hour are peat and john negarian and steven weiss. pete, begin with you, 16 of the 17 worst performers in the s&p today are retailers. >> understandably so. the expectations were so high. a lot of the analysts were looking for a bump of 3 to 4%. didn't get close to that. you're seeing pressure on the retail sector. even on the online side you aren't see
NBC
Dec 26, 2012 12:00pm EST
less than a week ago until the fiscal cliff's daunting deadline, president obama is cutting his vacation short to return to the capital. hallie jackson has latest. >> congress will also return to town tomorrow, but with new year's just a few days away a plan to avoid the fiscal cliff may come down to the wire. president obama spent part of this christmas greeting troops and how why he. >> not only do we have the finest military in the world -- >> but tonight he will leave the state for washington, and a state of gridlock, calls it -- as they struggle to come to a compromise to avoid tax hikes and spending cuts. members of both the house and senate are also heading back to capitol hill tomorrow. after the holiday break the president hopes will provide perspective. >> everybody can cool off, everybody can drink some eggnog and have some christmas cookies. >> and return to washington after speaker john boehner failed to get enough support for muslim party for a plan b that the bill that would raise taxes for those making more than a million dollars a year. >> what the president has
FOX News
Dec 26, 2012 12:00pm PST
could go into another recession if the fiscal cliff is not dealt with. we just learned house republicans convened a conference call with members to say be on 48 hours notice to come back to washington in the next few days to deal with this one way or another. the senate coming back into session tomorrow morning 10:00 a.m. eastern time. the president on this red eye will be flying basically overnight tonight into tomorrow, get there early in the day and maybe convene congressional leaders at some point. interesting that starbucks, the coffee company, is running a row motion in d.c. stores where the they're writing come together on the coffee cup. right now, they're a bit far apart. >> i heard you talk about that 78-degree cold front that swept through the islands. before he headed out, how did the president celebrate christmas? >> yeah, it's been rough. you're right. 78 degrees is probably better than where you are right now, but the bottom line is that hawaii is always beautiful this time and the president started a tradition when he comes out here for christmas, which is to go to the marine base here and thank the troops. take a listen to what he had to
FOX News
Dec 26, 2012 2:00pm PST
get a deal and avoid the fiscal cliff. we look at what happens if the deal does not happen. spoiler alert, it will cause you money. grapevine, david gregory could be in trouble for a segment on his sunday show. we show you what happened. "special report" starts at 6:00 p.m. eastern standard time. now back to new york and "the five." ♪ ♪ ♪ >> kimberly: is it a horrible offense to be too good look? apparently so in iowa. they ruled a dentist james night had a right to fire his dental assistant melissa nelson for being too irresistible. and a perceived threat to his marriage. nelson worked in the office for ten years said she viewed knight as father figure and was fired after his wife complained about his infatuation with her. >> after working for so many years side-by-side, i didn't have any idea that that would have crossed his mind. i think it sends a message that men can do whatever they want in the workforce. >> kimberly: not nice. but apparently the iowa supreme court disagrees with me. eric you are laughing. >> eric: i'm laughing can you manual if she was fired for being t
FOX Business
Dec 26, 2012 11:00am EST
shutdown. shibani: a small deal to hold off some of the fiscal cliff, it looks like washington's only option at this late hour. dennis: a white christmas in many parts of the country but now stopping people from getting back home. we are live at the fox weather center. shibani: let's look at the winners in the s&p 500 index. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your
CNN
Dec 26, 2012 11:00am PST
days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not to call the house back into session. we know the senate is supposed to convene, but nothing can, of course, take place until the house is in session as well. do we know the results of that conference call? will boehner reconvene the house? >> reporter: i'm told by a source familiar with the call, which just happened within last hour, as you said, that no decision was made on the schedule or timing for the house. as we talked about an hour ago, the leaders in the house have promised the members that they won't be called back without 48 hours notice. so at this point it is wednesday afternoon, they won't even be back, the earliest, until a saturday, if they haven't made a decision today. but, of course, it is true, basic civics tells us all this, that nothing can get done until the house and senate pass it. however, the action, which is really focused on the house up until now, will be an
CNN
Dec 26, 2012 1:00pm PST
, the willingness -- maybe we will get an 11th hour agreement that avoids the fiscal cliff, but it will be a fairly minimal agreement. nothing like a big comprehensive deal. especially the republicans are having difficulty making the compromises you need to move forward in what is a very closely divided society. what is the alternative? you have a republican house but a democratic president who will be there for four years and a reasonable prospect if hillary clinton runs in 2016, a democrat will hold the white house then. what are we waiting for. in 1997 even, when a democratic president was reelected along with a republican congress, they said none of us are going away, we have to make a deal. that's not really happening yet. >> so tglass is half full for you? >> i think it can still happen, but i felt for a long time there are only two choices. either we go over the cliff and clean it up after, or john boehner has to be a babandon th that they will only bring a bill to the floor if it's supported. i don't think there is a bill that a majority of house republicans will vote for that p
MSNBC
Dec 26, 2012 11:00am PST
waiting on a phone call to determine when you might have to go back to d.c. to hammer out fiscal cliff matters. have you gotten the call yet? >> we are still waiting. >> no word as to when you guys are going back? no sense of urgency? >> i think there is a sense of urgencey and we have to have a deal. i don't think that the speaker is going to bring back all the members unless he has a vote and that's what he is going to have a conference call. he's got to resolve his conference. democrats said they indicated to meet folks halfway. the government worked for his entire existence. i think the speaker is concerned about whether or not he can get reelected. he puts the bill on the floor without having all of his republicans on as i heard in your panel. the talking about i believe we can get 20 or 25 or more than that. the republicans voting for it. he won't get the majority and comes time for his reelection of speaker, he shows his vulnerability there. what they want to do, democrats have been ready to work and compromise and we know what needs to happen. we need republican who is are in a
CNBC
Dec 26, 2012 3:00pm EST
here in the last hour of the trade. if you don't think people are feel the effects of the fiscal cliff, think again. we look at very real effects of the cliff on holiday sales and the numbers coming out are not all that pretty. plus, don't count out mother nature as the east coast faces another nor'easter. >> meantime, starbucks is worried about the fiscal cliff. the nation's biggest coffee chain is planning to take its message to washington. would that be enough to jolt lawmakers into action? >> and as the year winds to a close, the head of aetna is back with us winding up for higher taxes in 2013 thanks to obama care. wait until you hear how high he thinks they could go. you're watching cnbc, first in business worldwide. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and th
CSPAN
Dec 26, 2012 10:00am EST
studentcam.org. >> next, kent conrad talks about fiscal cliff negotiations and proposals for a long term deficit reduction. he will be retiring this year after serving in the u.s. senate since 1987. this is about an hour. >> good morning. good to see you all. another day of fiscal cliff or fiscal curve, whatever one wants to term it. what we do know is the law is about to change, all the tax cuts from the bush era are about to expire. across the board spending cuts, some $1.2 trillion over the next ten years. so these are significant changes in law about to occur absent action by the congress and by the president. first of all, thank you, bob for that kind introduction. thanks for being so persist nt. i'm glad to have the chance now to come. in reflecting for my fair well address in the senate, i thought back to what motivated me to run for the united states senate. about 48 years ago i came to washington as a 16-year-old, sat in the gallery and watched a debate occur on civil rights. and i thought at the time some day i'd like to do that. i'd like to represent my state and i'd like to debate the great issues of the day. and after that trip i went home and i wrote on the back of an informal that i would run fo
CNBC
Dec 26, 2012 2:00pm EST
depending on how severely these particular fiscal cliff and sequestration issues hit the markets. cbo says could be as much as negative 5% in gdp. >> that's quite a lot. peter, do you agree there could be financial or market armageddon or maybe not? maybe things will be okay? >> eventually it is going to be an armageddon but not because we go over the cliff, but because we avoid it. avoiding the cliff is the real problem, because it means that we delay paying for all this government. big government is very expensive. the fiscal cliff is part of the problem. we can't keep borrowing and the fed can't keep printing money. if we want government, we have to pay for it. that means we have to have higher taxes. i would rather see a much bigger fiscal cliff in the way of government spending cuts. that's what we really need. but if we're not going to do that, we're not going to cut spending, then the middle class has to brace for the bad news. they have to pay for all this government and the best way to do it is with taxes. unfortunately, taxes on the rich are not going to work. they are
CNBC
Dec 26, 2012 4:00pm EST
fiscal cliff but at this point the gop leadership in the house has yet to call its people back. they said they would give him a 48-hour notice, and that hasn't happened yet so at least two days out we're not expecting the house to come back. >> and bad weather as well which might make it tricky. meantime, former presidential candidate and governor of vermont howard dean says going over the fiscal cliff is the responsible thing to do. river twice research president zach cashal says going over won't be a big deal. both are cnbc contributors. welcome back to the show. governor dean, you said going over the cliff would be a responsible thing to do. >> a very interesting discussion we're having here. what i don't see is what wall street has been criticized for lacking for so long is any long-term perspective. let's just say we have two quarters of recession as the cbo says we will, which i think is likely. what we don't say is what's going tonight long-term consequence of leaving things the way they are in the fiscal cliff takes $7.3 trillion out of deficit over ten years, isn't that what we really have to do? it seems to me i wo
CNBC
Dec 26, 2012 9:00am EST
when you have that sort of double whammy, sandy, newtown shootings, fiscal cliff, all these things can combine to depress shoppers' appetite to spend at this point. >> we'll talk a lot more over the next couple of hours where the discounts really came. there's a lot of talk about walmart and gap, and macy's and target. and then what that's going to meet as they try to clear out all this inventory, really starting today, going into the first part of the new year. those things have to get off the shelves. and that's going to affect margins one way or the other. >> let's bring in jackie deangelo, crunching the numbers back at headquarters. >> i'm going to recap what you said a little bit earlier. according to mastercard's spending poll, the few weeks leading up to christmas rose only .7%. a pretty big miss there. to give you perspective, after a drop of 5.5% in 2008, holiday sales have seen a steady rebound since then, including a 2% increase last year. this less than 1% figure, bound to be disappointing. online shopping also showed some muted results. spending polls show web sales were up 8.4% from last year, but that number doesn't stack up to the double digit growth we've seen in that segment over the last
CBS
Dec 26, 2012 7:00am PST
gusts up to 40 miles per hour and a huge travel headache for the next two days, at least. >> especially at this time of year. thank you so much. we turn now to political turbulence, and the fiscal cliff gets closer. congress now has six days to make a deal. they'll be back on capitol hill tomorrow, and chip reid is in washington. >> president obama will be arriving in washington tomorrow and both houses of congress will be back in session tomorrow. that will give them just five days to put together a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be craf
FOX News
Dec 26, 2012 8:00am PST
to keep the economy from going over the fiscal cliff. lawmakers are heading back to washington including the president with this year-end deadline that's been on the horizon. welcome, everybody, great to have you here. brand new hour of "happening now." kelly: i'm kelly wright in for jon scott -- jamie: and i'm jamie colby in for jenna today. kelly: talks hitting a dead end last week, now most americans are facing big tax hikes unless the two sides can work out a last minute deal. chief white house correspondent ed henry with more. >> reporter: you're right, really all eyes turning to plan c. plan a was that $4 trillion debt deal, plan b was speaker boehner's idea about tax increases only for million dollar incomes and more, now turning to plan c which is president obama's idea which is to move it back to $250,000 or more, that would be the threshold for tax cuts or tax increases in the other direction, also dealing with two million people who are losing their unemployment benefits, president wants to the take care of that by the end of the year and finally, spending cuts kicked till later next year. that's one of the key things that's going to have to be ironed out if taxes are going up for some, republicans are say
Search Results 0 to 25 of about 26